Chicago Mortgages

Chicago will be the second city for the federal government's Neighborhood Stabilization Initiative, Mel Watt, director of the Federal Housing Finance Agency, announced Tuesday. The pilot program, announced for Detroit in May, is designed to help repair communities hard hit by the housing crisis and to stem additional foreclosures. For homeowners in select neighborhoods who are at risk of losing their properties, it offers loan modifications, some of which carry principal reductions. Post-foreclosure, its goal is to quickly move Fannie Mae and Freddie Mac-held properties off the agencies' books and into nonprofits' hands for redevelopment. Watt announced Chicago's...

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MetLife Inc. announced Thursday it is teaming with a California developer to build a $110 million industrial distribution center near Hartsfield-Jackson Atlanta International Airport in Georgia.The New York life insurer, which has operations in...

As institutional investors look for better returns in a low-interest-rate environment, Conning has partnered with an Illinois-based lender and underwriter to allow its customers to invest in commercial-mortgage loans.The commercial mortgage loans will...

Chicago will be the second city for the federal government's Neighborhood Stabilization Initiative, Mel Watt, director of the Federal Housing Finance Agency, announced Tuesday.
The pilot program, announced for Detroit in May, is designed to help repair...

Never let a crisis go to waste, says an old rule of politics.
For some major players in the economy, the financial crisis that began five years ago this month with Lehman Bros.' collapse turned out to be as much an opportunity as a calamity.
Although...

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Buy a new...

Sometimes it's hard to escape the notion that our lives are being slowly, inevitably reduced to a single database.
For instance, if you thought your current credit report told the full story of your financial persona, it's nothing compared to what's on...

Text of President Barack Obama's State of the Union address, as provided by the White House: Mr. Speaker, Mr. Vice President, members of Congress, distinguished guests and fellow Americans: Last month, I went to Andrews Air Force Base and welcomed...